Dolphin Drilling AS

Dolphin Drilling: Change of CEO

Oslo, Norway -- 17 December 2025 -- Dolphin Drilling today announces that Jon

Oliver Bryce has resigned from his position as Chief Executive Officer (CEO).

The Board of Directors has appointed Michael Boyd, currently the company's

Chief Commercial Officer, as the new CEO, effective immediately.

Chairman's Statement

"We would like to thank Jon Oliver Bryce for his contributions to the Company

and wish him the very best in his future endeavours."

Bjørnådal added: "We are pleased to appoint Michael Boyd as the new CEO of

Dolphin Drilling. Michael has been instrumental in building our contract

portfolio and strengthening our commercial performance. His deep industry

knowledge and strategic focus make him exceptionally well-suited to lead the

company into its next chapter."

About the Incoming CEO

Boyd brings extensive industry experience and has been central to shaping

Dolphin Drilling's commercial strategy in recent years. As CEO, he will drive

a renewed focus on operational performance, cost discipline, contract backlog,

and targeted capital allocation. His leadership will centre on aligning the

organisation's structure and capabilities to ensure Dolphin Drilling operates

from a more robust, resilient platform and competes strongly in the market.

The company's refreshed strategy is aimed at reducing uncertainty and

delivering sustainable long-term value for customers, employees, and

shareholders.

He will be supported by the COO and CFO, who together will form the company's

core executive team. This strengthened leadership structure is designed to

create a more agile, focused organisation with clear direction and robust

operational and financial oversight.

For further information, please contact: Ronny Bjørnådal, Chairman, tel: +47

918 50 549

Dolphin Drilling | www.dolphindrilling.com (http://www.dolphindrilling.com/)

Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which

owns and operates a fleet of harsh environment mid-water & deep-water

semisubmersible drilling rigs, capable of working worldwide.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to the Norwegian Securities Trading Act section 5-12.

This stock exchange release was published by Ingolf Gillesdal on the time and

date provided.

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